Crude futures rallied today following yesterdays soft market.
Brent front-month contracts for August firmed to $1.59 settling at $63.60 per barrel, while WTI August contracts spiked up $1.14, settling at $59.47 per barrel.
We can expect that speculators will be driving the market with a Greek default and capitol controls in sight which could put downward pressure on European economic data.
Bunkers were fairly firm today in the primary ports, but it’s going to be a volatile ride, stay tuned.
